PIP - Price Interest Point or Percentage in Point is the smallest price change that a given exchange rate can make. So, for the purpose of this class, we are going to be using Metatrader 4 as shown below Metatrader version 4(MT4) is the widely used. There are different types of trading platform such as the Streamster and Metatrader, which is the most popular. Trading Platform - This is a software with a graphical interface used to trade currencies, equities, future, or options. So, for the purpose of this class, we are going to be using Insta Forex Currency traders use these brokers to access the 24-hour currency market.Įxamples of forex brokers include Northfinace, marketiva, Node fx, Alpari, Liteforex, FXOpen, Hotforex, Xemarket, FXPro, Insta Forex. A currency trading broker, also known as a retail forex broker, or forex broker, handles a very small portion of the volume of the overall foreign exchange market. They include īrokers - These are firms that provide currency traders (us) with access to a trading platform that allows us to buy and sell foreign currencies. Forex has lots of them and we'll take a look at some of the important ones for now. The understand of these terms is a rudiment to success in this business. If you are all set, take this down.Įvery trade has its own technical jargons associated with it. This brings us to the topic "Forex Terminologies". In a bid to properly understand this business, we need to understand the language. Today, we are going to proceed from where we stopped. Ruggedcuzz asked "How do you measure if the volume is high enough to trade?" This is a very good question and we are going to answer it in our subsequent discussions. In our last class, we looked at "When You Can Trade" and took our time to extensively discuss it like the best time to trade is when the market is busiest.
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